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E.ID. PARRY (INDIA) LIMITED: Un-audited
Financial Results
Chennai, 28 July, 2008: The
total income of E.I.D. - Parry (India) Limited for the quarter ended
June 30, 2008 was Rs.222.86 Crore (Rs.80.16 crore). A gross profit
(PBIT) of Rs.9.65 crore (Gross Loss of Rs.24.82 crore) after absorbing
depreciation of Rs.12.08 crore (Rs.10.69 crore) was earned at the
operating level. After absorbing interest cost of Rs.5.65 crore
(Rs.0.45 crore) the Profit Before Tax for the quarter was Rs.4 crore
(Loss Before Tax of Rs.25.27 Crore).
Sugar Division
During the quarter, the company crushed 12.25 lakh MT of cane compared
to 13.42 lakh MT in the corresponding period of 2007-08. The overall
production of sugar was 1.11 lakh MT (1.22 lakh MT). The average
sugar realization per MT for the quarter was Rs.13816 compared to
Rs.13713 for the corresponding period of 2007-08. During the quarter,
the company exported 956 lakh units to the TNEB Grid compared to
640 lakh units for the corresponding period of 2007-08.
During the quarter, the company exported 66762 MT
(26 MT), including 43246 MT of Raw Sugar.
The sugar segment reported a loss of Rs.7.74 crore
for the quarter (loss of Rs.34.74 crore). The loss consists of Rs.10.91
crore for the quarter for sugar (loss of Rs.38.44 crore) while the
Profit Before Interest and Tax (PBIT) for the Distillery business
was Rs.3.17 crore (Rs.3.70 crore). The PBIT for the Cogeneration
Segment Rs.15.77 crore (Rs.10.89 crore).
Bio-products Segment
The Bio-products segment reported a Profit of Rs.0.02 crore for
the quarter (loss of Rs.0.27 crore). While the Bio-pesticides division
reported a loss of Rs.0.14 crore for the quarter (loss Rs.0.87 crore),
Nutraceuticals Division reported a Profit of Rs.0.16 crore (profit
Rs.0.60 crore).
Interest
Interest Expenses (Net) for the current quarter was Rs.5.65 Crore
(Rs.0.45 crore). This was mainly due to lower interest income as
compared to the corresponding quarter of the previous year, consequent
to utilisation of funds for the projects.
Consolidated Results
The consolidated total income for the quarter ended June 30, 2008
was Rs.1637.08 Crore (Rs.552.71 crore). A gross profit (PBIT) of
Rs.171.77 crore (Gross profit of Rs.43.15 crore) after absorbing
depreciation of Rs.24.53 crore (Rs.24.39 crore) was earned. After
absorbing interest cost of Rs.21.20 crore (Rs.22.27 crore), the
profit for the quarter after exceptional income of Rs.158.59 was
Rs.309.16 crore (Profit Rs.20.88 Crore).
About us
EID–Parry (India) Limited is a member of the Murugappa Group.
Headquartered in Chennai, the Rs.9582 Crore (USD 2.4 billion) Murugappa
Group is one of India's leading business conglomerates. Market leaders
in diverse areas of business including Engineering, Abrasives, Finance,
General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations,
Bio-products and Nutraceuticals, its 29 limited companies have manufacturing
facilities spread across 13 states in India. The organisation fosters
an environment of professionalism and has a workforce of over 30,000
employees.
The Group which has forged strong joint venture alliances
with leading international companies like DBS Bank, Mitsui Sumitomo
Insurance, Cargill, China Engineering & Exploration Bureau and
Groupe Chimique Tunisien, has consolidated its status as one of
the fastest growing diversified business houses in India.
For further information, please
contact:
Chandrika Raman
Asst General Manager -
Group Corporate Communications
Murugappa Group
Tel: 044 25306535 / 98400 71172
Email: chandrikaR@corp.murugappa.com
P. Gopalakrishnan
Group Corporate Communications
Murugappa Group
Tel: 044 2530 6247
Email: gopalakrishnan@parry.murugappa.com
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